STRESS TEST: CEOs Outline Way Forward

May 7th, 2009 - Wall Street Journal

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(Adds statements from BofA CEO Lewis, other interpretations of results.)

NEW YORK (Dow Jones)--The nation's biggest financial institutions received their marching orders from the government Thursday, and their CEOs wasted no time mapping out the road ahead.

Ten of the nation's biggest banks must raise a total of nearly $75 billion of capital to beef up common equity, protecting banks against dramatic economic worst-case scenario. Some responded swiftly: Morgan Stanley (MS), Citigroup Inc. (C) and Wells Fargo & Co. (WFC) have already unveiled plans to comply with the government's capital demands.

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